Bengaluru: Madhya Pradesh Chief Minister Dr Mohan Yadav held one-to-one meetings with industry leaders and investors in Bengaluru on September 22, with discussions covering investment proposals in telecom, semiconductor, chip design, Global Capability Centres (GCCs), data centres, drones and other emerging technology sectors. Union Communications Minister Jyotiraditya Scindia was also present.
The meetings included proposals and plans involving more than ₹500 crore across several technology sectors. The Department of Telecommunications separately held its third Investors’ Roundtable in Bengaluru on the Gwalior Telecom Manufacturing Zone (TMZ), with the Union government stating that around ₹700 crore was committed at the Bengaluru roadshow for the TMZ.
Key Investment Proposals
During the meetings, companies and investors discussed the following proposals:
- Tholons: Proposed a ₹210 crore investment to establish a Global Capability Centre (GCC) in Madhya Pradesh.
- Aseem Maven Silicon: Proposed a ₹100 crore chip design house, with ₹25 crore planned for the first phase.
- Core-IC Technologies: Proposed ₹100 crore investment in chip design services in phases.
- Seafund: Presented a plan to provide around ₹200 crore in funding for Madhya Pradesh-based startups.
- Ninestars Information Technologies: Discussed establishing a modern data centre in the state.
- CGI: Expressed interest in expanding its GCC-related operations in Madhya Pradesh.
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Discussions were also held with companies from the drone, space technology, mobility and sustainability sectors. Representatives of Airbound, ideaForge, Nautical Wings, NewSpace and Research Technologies and Unmanned Systems discussed opportunities related to drone manufacturing and testing.
Focus on Gwalior Telecom Manufacturing Zone
Yadav highlighted the Gwalior Telecom Manufacturing Zone during his meetings with investors. The state government is positioning the zone around telecom equipment manufacturing, research and innovation.
According to the Department of Telecommunications, the Gwalior TMZ is being developed as India’s first integrated Telecom Manufacturing Zone. The Centre and Madhya Pradesh government signed an MoU for its establishment in July 2026, while 24 companies are already on board with proposed investments of ₹5,500 crore, according to the Communications Ministry.
Yadav also told investors that Madhya Pradesh is offering single-window approvals and policy support for investments. He said the state intends to promote industrial activity not only in major centres such as Indore, Ujjain and Bhopal but also in regions including Gwalior and Jabalpur.
The Bengaluru meetings therefore covered both the existing telecom manufacturing plans in Gwalior and prospective investments in chip design, GCCs, startups, data centres, drones and other technology sectors.
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